1
The financial year of L Pacioli ended on 31 December 2007. Show the ledger accounts for
the following items including the balance transferred to the necessary part of the financial statements,
also the balances carried down to 2008:
(a) Motor expenses: Paid in 2007 £620; Owing at 31 December 2007 £410.
(b) Insurance: Paid in 2007 £730; Prepaid as at 31 December 2007 £90.
(c) Stationery: Paid during 2007 £410; Owing as at 31 December 2009 £170; Owing as at
31 December 2009 £320.
(d) Business rates: Paid during 2007 £1,840; Prepaid as at 31 December 2009 £80; Prepaid as at
31 December 2007 £60.
(e) Pacioli sub-lets part of the premises. He receives £1,600 during the year ended 31 December 2007.
Robb, the tenant, owed Pacioli £200 on 31 December 2009 and £220 on 31 December 2007.